Global Alpha Olefins Market

Alpha Olefins Market Size, Share, Growth Analysis, By Product(1-Butene, 1-Hexene), By Application(Polyethylene, Detergent Alcohol) - Industry Forecast 2024-2031

Report ID: SQMIG15A2117 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 67 | Figures: 75

Alpha Olefins Market Insights

Alpha Olefins Market size was valued at USD 10.46 billion in 2022 and is poised to grow from USD 10.97 billion in 2023 to USD 16.09 billion by 2031, growing at a CAGR of 4.90% during the forecast period (2024-2031).

Alpha-olefins are a class of organic compounds that consist of alkenes (also known as olefins) with the chemical formula CxH2x and are distinguished by the presence of a double bond in the primary or alpha position. This place of a double bond increases the compound's reactivity and makes it useful for a variety of applications. Alpha-olefins are classified into two types: branched and linear (or normal). The chemical properties of branched alpha-olefins with a branch on the second (vinylidene) or third carbon number differ significantly from those of linear alpha-olefins and those with branches on the fourth carbon number and further from the beginning of the chain. Polyethylene is manufactured using alpha olefins. As a result, the increasing demand for polyethylene production from the plastics industry is expected to drive the market for alpha olefins.

Moreover, the Rising demand for alpha olefins in a variety of applications such as polyolefin co-monomers, surfactants and intermediates, automotive, and others is expected to boost the alpha olefins market in the forecasting years. In addition, rising demand for pao-based synthetic lubricants and a growing population are expected to drive the market in the coming years. Furthermore, an increase in demand for alpha olefins-based food packaging products, as well as rising R&D expenditure for the production of bio-based alpha-olefins, are expected to fuel the market during the forecasted period.

US Alpha Olefins Market is poised to grow at a sustainable CAGR for the next forecast year.

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Alpha Olefins Market size was valued at USD 10.46 billion in 2022 and is poised to grow from USD 10.97 billion in 2023 to USD 16.09 billion by 2031, growing at a CAGR of 4.90% during the forecast period (2024-2031).

alpha olefins market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. The alpha olefin market is partially consolidated, with both international and domestic players 'Chevron Phillips Chemical Company LLC', 'Ineos Oligomers', 'Shell Chemicals', 'ExxonMobil Chemical Company', 'Evonik Industries AG', 'Idemitsu Kosan Co., Ltd.', 'Sasol Limited', 'Qatar Chemical Company Ltd. (Q-Chem)', 'Nizhnekamskneftekhim', 'SABIC', 'PJSC Nizhnekamskneftekhim', 'PBF Energy Inc.', 'CP Chemicals', 'Borealis AG', 'Chevron Corporation', 'SK Chemical Co. Ltd.', 'Mitsubishi Chemical Corporation', 'Formosa Plastics Corporation', 'LyondellBasell Industries N.V.', 'Dow Inc.'

The discovery of shale gas is a significant contributor to market expansion. Ethylene, naphtha, butane, and natural gas are the primary sources of alpha olefins. The most commonly used production process for producing a full range of alpha olefins is ethylene oligomerization, whereas ethylene is primarily obtained from ethane, which is derived from natural gas. Because shale gas is rich in olefins, its recent discovery in several countries has resulted in an expansion of the olefin industry. The abundant supply of low-cost natural gas-based feedstock from North America's highly productive shale fuels the alpha olefins market. Because of the increased availability of ethane and propane feedstock from shale gas, nearly all of the major North American alpha olefin producers have announced capacity additions for ethylene/propylene or alpha olefins.

Surfactants are found in a wide variety of cleaning products, and one of the most common types is anionic surfactants, which are prized for their foaming ability. There are numerous anionic surfactants for use in detergents, but the salts of dodecylbenzene sulfonic acid and ethoxylated sodium lauryl sulphate are the most commonly used today. However, In contrast, new trends have caused a reconsideration of the suitability of these surfactants due to factors such as hazardous or difficult handling, biodegradability, skin and fabric compatibility, efficiency in low-temperature washing, or transport costs associated with diluted products. As a result, ingredients developed in the previous century, such as Alpha-Olefin Sulfonate (INCI: Sodium C14-16 Olefin Sulfonate), are regaining popularity in the detergency and cosmetic industries.

Chevron Phillips, INEOS, and Shell are the three largest producers of Linear Alpha Olefins (LAO) via ethylene oligomerization. These companies are well-known in North America, Western Europe, and the Middle East. Western Europe, on the other hand, is likely to face a limited supply of ethylene and will continue to produce LAO via extractive distillation or the full range process with minor capacity additions. Heavy LAOs are the focus of investments in the Middle East and North America. These regions are expected to focus on specialty polyethylene grades, with a particular emphasis on the production of C6 and C8 LLDPE.

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Global Alpha Olefins Market

Product ID: SQMIG15A2117